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Madrid, Spain, May 29, 2020
IFC, a member of the World Bank Group, joined the World Tourism Organization (UNWTO) under the new Investment Readiness for Green Finance Mechanisms initiative. The UN specialized agency for tourism will work alongside IFC on a series of training programs focused on stimulating tourism’s recovery from the current crisis while at the same time promoting green financing to enhance sustainability across the whole of the tourism value chain.
UNWTO Secretary-General, Zurab Pololikashvili said: “Sustainable tourism should no longer be considered a special niche. Instead, this pause in global travel offers us a chance to rethink tourism and make the whole sector more sustainable as we grow back better and stronger. This new initiative with IFC will
provide valuable guidelines on Sustainable Tourism Investments
that enhance tourism’s contributions to the Sustainable Development Goals.”
Facilitating Investments in Sustainability
At present, there are 200,000 hotels providing 18 million beds worldwide, with a further 2.4 million rooms in the pipeline. These alone account for 1% of global greenhouses gas (GHG) emissions and so increasing the sustainability of this part of the global tourism sector can make a significant contribution to climate-related Sustainable Development Goals. This new initiative is aimed at furthering this.
One of the main focuses will be working with private sector partners to
promote green finance
and share experience in resourcing sustainable buildings. The initial cooperation will consist in a series of trainings to promote green investments for a long term recovery of the tourism sector. The first training is planned to start on June 4
, 2020 in a webinar format, and it will culminate with an accreditation training for EDGE Experts. Government officials, hospitality investors, aggregators and tourism investment consultants are all invited to
register their interest
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2019, we invested more than $19 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit
The World Tourism Organization (UNWTO) is the specialized agency of the United Nations fostering tourism as a vehicle for equal, inclusive and sustainable development. Working with Member States, international organizations and the private sector, UNWTO promotes safe and seamless travel for all. UNWTO also works to ensure tourism is at the forefront of global efforts to achieve the 2030 Agenda for Sustainable Development, including through its ability to create decent jobs, promote equality and preserve natural and cultural heritage. For more information, visit
An innovation of IFC, EDGE helps property developers to build and brand green in a fast, easy and affordable way. EDGE is supported by free software that encourages solutions to reduce energy, water and the energy used to make building materials by at least 20 percent, which is the standard for EDGE certification. The program has been generously supported by the following donors: Austria, Canada, Denmark, ESMAP, EU, Finland, GEF, Hungary, Japan, Switzerland and the UK. For more information, visit
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